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Introduction
The trade-off question at hand is whether Babylon Health should offer a broader range of health services or specialize in specific medical areas to enhance our expertise. This scenario involves balancing the potential benefits of diversification against the advantages of specialization in the digital health space. I'll approach this analysis by examining the current product landscape, evaluating potential impacts, and proposing a data-driven decision framework.
Analysis Approach
I'd like to outline my approach to ensure we're aligned on the key areas I'll be covering in this analysis. I'll start with clarifying questions, identify the trade-off type, dive into product understanding, present hypotheses, define metrics, design an experiment, plan data analysis, create a decision framework, and finally provide a recommendation with next steps. Does this approach sound comprehensive, or would you like me to focus on any specific areas?
Step 1
Clarifying Questions (3 minutes)
Why it matters: Helps understand the starting point for this decision. Expected answer: A mix of general and specialized services with varying success rates. Impact on approach: Would inform which areas to potentially expand or focus on.
Why it matters: Helps prioritize financial implications of the trade-off. Expected answer: Specialized services likely have higher margins but smaller user base. Impact on approach: Would influence the balance between breadth and depth of services.
Why it matters: Ensures the decision aligns with user preferences and market demand. Expected answer: A mix, with some users seeking specialized care and others valuing convenience of general services. Impact on approach: Would guide the focus of potential new offerings or specializations.
Why it matters: Determines the technical effort required for either path. Expected answer: Some challenges but generally feasible for both options. Impact on approach: Would influence timeline and resource allocation for implementation.
Why it matters: Helps understand our capacity to execute on either strategy. Expected answer: A mix, but likely more generalists than deep specialists. Impact on approach: Would inform hiring needs and training programs for either path.
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